Hamilton 'sacrifices' house for Wrexham

02 December 2004

By IAIN St JOHN

ON the eve of Wrexham FC being placed into administration the club's controversial owner says he has "nothing nothing to fear" from any investigation into his deals at The Racecourse.

Alex Hamilton was talking ahead of tomorrow's High Court hearing in Manchester that will see the club being put into administration.

His robust defence of his deals at the club will come as a bitter blow to the fans who hope the administrator will uncover any wrong-doings by Mr Hamilton, which they hope will see his removal from the club.

In an exclusive interview with the Evening Leader, Mr Hamilton said he would welcome the administrator's investigations.

Willing

He said he had put more than £1.1 million into the club, but was willing to sell his share in the club at no profit.
He urged fans to pay a £900,000 unpaid tax bill to keep the club out of administration.

And he blasted a claim by former chairman Mark Guterman that he had actually invited the Inland Revenue to issue a winding-up petition on the club.

He said: "It's time for facts, and these are the facts. I have invested a total of £1,106,500 in Wrexham Football Club. Guterman tells you I have invested £600,000 - well he's 54 per cent right. He is telling half truths, you might say."
Mr Hamilton broke down the £1.1 million sum.

He confirmed that he paid former owner Pryce Griffiths £50,000 for his shares in the club and paid £8,000 in subsequent legal fees.

He said he later spent £200,000 in loan capital to the club, £75,000 of which went to pay the Inland Revenue.

In June 2002 he paid £22,500 more in loan capital and paid £300,000 for the freehold of The Racecourse site.

Also that month, he paid £300,000 to ward off a threat by the Inland Revenue to wind up the club. He said he paid that money as part of the deal that would give him ownership of the freehold of The Racecourse site.

He claimed in June 2004 that he made another loan capital payment of £10,000 and in August he paid £90,000 for the club's Stansty training ground.

He said interest on his payments, stamp duty and conveyancing fees brought him up to the £1.1 million figure.

Mr Hamilton said: "I have put my life savings into the club. I have remortgaged my house to fund this. That is the sacrifice and the commitment I have made.

"My challenge to the fans as the club faces administration is "follow me boys". I have put a lot into the club, the fans could do their bit to pay off the Inland Revenue £900,000 tax bill. The 3,000 fans who go there can donate £300 each - that's £6 a week to save this club and keep it out of administration. Get a low interest personal loan, ask granny for the dough; it's time to save your club."

Backers

Asked about any last-minute bids that would keep out the club out of administration, he said: "Mark Guterman says he has backers, but how can I agree to sell if he will not reveal who his financial backers are? The Press should be asking him who his backers are. Who is behind the curtains? Is it a serious deal? It's time for openness and candour; it has got beyond anything else. Time is running out.

"Wrexham Supporters' Trust made offers, but the offers were basically if x, y and z happen then you will eventually get paid. They said when we buy Dickens garage, get planning permission for 140 flats and the council buys the ground you will get your money. Who is to say any of that will happen? It was not a bid, it was a fantasy."

Mr Hamilton said any deal from the Wrexham Supporters' Trust would be difficult to agree anyway, since the
organisation had still not helped identify individuals who took part in a protest outside his Cheshire home.

He said he has been forced to fit CCTV cameras outside his home and on the approach road and has a 24-hour direct emergency link to his local police station.

Mr Hamilton said: "Any deals with the trust will have to get past a major sticking point, and that is what some so called fans have been doing. They have been calling with death threats and all sorts. They are only a very small minority, and the vast, vast majority of Wrexham fans are people who cause no trouble and love their club.

"I will sell my shares in the club today and I will tell you I now I don't even want a profit. All I want is the £50,000 I paid Pryce Griffiths, the £232,500 I paid in loan capital and the interest I paid of around £50,000. Anyone who has £332,500 can have my shares and I will get no profit. I am happy with that; I have had enough of owning the club and will walk away from it.

"I can't believe there is not a businessman or company in Wrexham, North Wales or this region who is not interested in buying this club."

Asked whether he would be willing to sell The Racecourse for no profit, Mr Hamilton said: "That's a different story; it is a separate entity. It is different from the club. I am willing to sell for the amount the valuers say the land is worth. If town hall (Wrexham Council) say they want to buy it, then I will listen to them, but only if they agree to pay for the valuation."

Mr Hamilton was asked if he had anything to fear should the administrator launch investigations into his deals at the club, particularly over the switch of ownership of The Racecourse freehold.

Welcome

He said: "I have nothing to fear. Nothing whatsoever. I have done nothing wrong and I will welcome working with the administrator. I look forward to playing my part in this process; I want a thorough analysis of what has been going on. There is a future for this club; it can go into administration as a going concern. I hope the administrator leaves no stone unturned so the fans can really see what's been going on over the last few years and before then and how the club got into such difficulties.

"Fans must know that the administrator's duty will be find the best way to pay the creditors, meet the £2.6 million debt.

"That means he must capitalise fully on the assets available."

Asked whether that means he felt the administrator may conclude the only way for the club to survive in the long term would be to relocate to a smaller ground or groundshare and sell off the team's best players, Mr Hamilton said: "You are saying that, not me. I don't know what the admin-istrator will conclude. But I say again, his duty is to find the best way to pay the creditors. That will mean assets will have to be exploited. If that means relocating the club, then relocate the club. Arsenal, Anfield, Maine Road, Stoke they have all moved successfully."

In response to Mr Hamilton's comments, Wrexham Supporters Trust said: "Our offer to Mr Hamilton is very real and very serious.

"Our offer has the backing of its blue chip developer, Wrexham Council, Ian Lucas MP, Neville Dickens and a commercial property solicitor.

"There are lots of interested parties involved in this deal, which is why the contracts are so complicated.

"This is fairly standard practice in transactions of this nature. We have every confidence that everything will happen for the deal to go through and we would be delighted to meet Mr Hamilton again to give him a better idea of the timescales we are looking at.

"Given that our offer is the only one currently on the table we believe we have the best chance of giving Mr Hamilton a quick return on his investment.

"We agree with Mr Hamilton that a quick resolution is in the best interests of everyone. The sooner he agrees to our deal the sooner he gets his money."